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Coinbase employees are taking a severance package and leaving the exchange, shortly after receiving a memo by CEO Brian Armstrong, who states that Coinbase will be ‘apolitical’.
- 60 of the 1,200 employees have left, according to Coindesk, which represents 5% of the taskforce
- Most of the employees who have left are reportedly from the engineering team
- Armstrong published a public statement and sent employees a memo that said that COINBASE would not engage in political activism in an era where politics finds itself embedded in Silicon Valley culture
- The CEO said that employees were free to leave if they disagreed with Coinbase’s position, and would be given a “generous” severance package
- Armstrong said that he expects more departures, but that he expects the eventual outcome to be a “stronger and more united team”
